Multiple Choice Question Information for Q-mart appears in the following table. Calculate the reported...

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Accounting

Multiple Choice Question
Information for Q-mart appears in the following table. Calculate the reported cost of inventory when LCM is applied to individual items of inventory.
$ 1,540 is LCM inventory.
$1,600 is LCM inventory.
$1,620 is LCM inventory.
$1,700 is LCM inventory.
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